IBM, TBSCASoft, and SoftBank have announced a strategic collaboration to help transform the telecom industry by helping it harness the power of blockchain technology. The collaboration will help deliver newer and better services to telecom carriers and their subscribers.
The collaboration will see IBM bring its blockchain tech expertise to the table while TBCASoft and SoftBank will leverage their knowledge of technology, and telecommunications.
TBCASoft and SoftBank had co-founded the blockchain consortium called the Carrier Blockchain Study Group (CBSG) Consortium, the strategic collaboration between the companies aims to enable carriers to leverage blockchain tech through the consortium.
Cross-carrier Payment System (CCPS) is the first application that will be launched by the consortium. The CCPS will help mobile subscribers use their mobile payment app with local merchants even when they are abroad. The application allows interoperability across different OTT networks.
Commenting on the collaboration, Daichi Nozaki, VP & head of SoftBank Corp, Global Business Division said: “We are proud to contribute to this project, which utilizes our expertise as the first adopter of the CCPS platform. We look forward to working on this ecosystem transformation initiated by the telecommunications industry, with carriers around the world united as one through blockchain technology.”